example use
a day in the life of a pharisian
Last updated
a day in the life of a pharisian
Last updated
Users, both lenders and borrowers, first have to create a port. A port can then be used to create or fill as many orders as desired. Lenders create Offers while borrowers create Requests.
Lender-a, a hodler of ETH, navigates to the Pharos UI, creates a port and loads it with ETH. They then mix and match plugins to create four offers, each with its own terms such as MCR, borrowing costs, accepted collateral, liquidation strategy and leverage use cases. Offer-3 approves the use of three leverage plugins: Uniswap, Curve ad Convex.
Borrower-a, a Bong Bears NFT hodler and a certified degen, is looking for some action. They navigate to the Pharos UI, create request-4 to borrow USDC at a fixed interest rate in return for their Bong Bear as collateral.
Borrower-a also takes out a 10x leverage ETH loan by filling offer-3. They then proceed to swap it for WBTC through the Uniswap V3 Plugin.
Lender-b, an esteemed and wise anon, hears about request-4 and proceeds to read the terms on the Pharos UI. "Lend my USDC for a fixed interest rate and in the case of default I get to keep the Bong Bear, effectively buying it for a discount? FILL FILL FILL!"
